Thank you for the questions and comments. I agree with your points about the challenge of it's not just about branch services, but about access to cash services as well—not just ATMs but, in particular, free-to-use ATMS as well. Part of the drive behind this is a recognition that the flight of traditional branches and cash services does mean that there is an increasing divide between those with digital skills, in particular mobile banking, but also those who require cash to go about their normal day-to-day business. So, there's a challenge here, in terms of not acting and what we would otherwise be left with.

I'm proud of the work that we have done successfully over a period of time, with support from a number of parties, on trying to provide financial services through credit unions in particular as well. But I do think that Banc Cambria will fill a particular gap that still exists, and I'm pleased to have the broad support of Plaid Cymru in doing so.

I'd expect more detailed plans for branches to come with that investment proposal, but Banc Cambria indicate that they expect to get up to about 30 branches over their first decade in operation. Now, it is not a fair test to say that Banc Cambria should expect to make up all of the branches that have closed by traditional and long-established branches, and to be able to do so within a short period of time. We're still looking at something that, as I say, is a novel policy intervention, to be able to create a new community bank. And you're right to point out that other parts of the world have a very different network, and that we have, as I said in my opening, not a very diverse banking sector at all. The newer challenger banks that have come along tend to be online banks. So, there's still a gap that we believe Banc Cambria can help to fill.

That detailed investment proposal, when it comes, it won't just be due diligence. We want to look at how they're looking and to set out a plan for how they'll go through where they'd want to establish branches and services. So, I do appreciate that, many of the questions that will come today, I won't be able to give you definitive answers, but to be able to indicate that they do expect to establish new branches over the first decade. They expect to be able to set out more about the products and services that they'll provide. The investment proposal will help to detail and set that out.

The fact that Monmouthshire are doing this already means that we have an institution that is headquartered in Wales. It's headquartered in Newport, and, without looking at the two constituency Members for the city of Newport, I'd have thought that they would want to see Banc Cambria remain established and headquartered within that city. I'm not looking to try to have regions arguing with one another, but the point is that we have an established financial institution that is headquartered and rooted in Wales and has been for a century and a half. That's a good thing, in terms of the sort of fit that we're looking for for someone that is committed to community banking services.

That doesn't mean, of course, that they won't be involved in supporting businesses. I think that they will—in particular, smaller businesses. The challenge will be, if we're looking at larger economic units, about where the capital for that will come. So, it's not that I would say that they're not allowed and won't be permitted to do that; it's really about the need to establish the community banking model first as a proper service that is successful, and it's then about the ambition of the institution and what it can actually achieve.

But, again, I'm not sure that it would be a fair test to say that it must be involved in the sort of scale of finance that you might otherwise see in industries like the steel sector. But it's a matter for the institution to set out a proper investment proposal that the Welsh Government can get behind. And I can say that it's my expectation that Welsh language services won't just be online; there'll be in-branch Welsh language services as well. It's part of the attraction of having a proper partnership with a local institution that understands the need to do that. So, I think it would be a good thing for the language and community banking services, as well as the breadth of what we’re going to be able to do over time. The first step, though, is today’s public announcement about the financial institution. The next step will be a proper investment proposal and the due diligence, and then we hope we’ll get on to actually establishing Banc Cambria branches within this Senedd term.